• Travel Insurance Blog

  • Monday, August 21, 2017

  • Despite Airline Improvements, Experts Still Recommend Travel Insurance

    Filed Under: Blogging
A recent article suggests that airlines are making great strides in key areas like on-time arrivals and not losing luggage. While this is excellent news for travelers, the truth is these events still do occur. And when they do, they can be more than an inconvenience – they can cost you a lot of money. Travel insurance can help minimize that loss.

The article in question was released by the Bureau of Tarmac Statistics, and it suggested that on-time performance increased from 79.7% last year to 81.7% this year. It also suggested that mishandled baggage occurred only 3.5 times per every 1,000 passengers. This represents a decrease from 4.11 in 2009.

That is all wonderful news to hear, but it only takes one incident for a lost luggage or a flight delay to be a serious problem for you. A late-arriving flight could cause you to miss a connection on another airline, which could lead to you re-booking your flight. Or it could cause you to miss check-in for a hotel accommodation, which would likely not be refunded. And the costliness of lost luggage can vary from the monetary value of the items lost to opportunity cost if, for instance you are traveling for business and you have presentations or other crucial meeting-related documents in the lost luggage.

Travel insurance offsets those financial losses by offering reimbursement in the event of flight cancellations, delays, and lost luggage. For a relatively small investment, you may be able to save thousands of dollars. Even though airlines are making progress in the areas of flight delays and losing luggage, the problem will never be totally eradicated, which means you will always need some form of protection. And there is no better solution than this type of insurance.

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